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Search Results 0 to 27 of about 28 (some duplicates have been removed)
MSNBC
Dec 28, 2012 10:00am PST
implications to the economy. much more than the fiscal cliff. >> exactly. the debt ceiling is a cliff. the fiscal cliff is somewhat misname because as we said -- >> slope. >> slope. curb. go over and get back. it is not so bad. but, you know, there's no sort of we defaulted yesterday and today we are sort of undefaulting. it doesn't work that way. once you defaulted on your debt, i mean, you have really sent the world a message you are deeply dysfunctional and the president has said i'm not going to negotiate over that. i'm not going to allow that kind of threat to the credit worthiness of the greatest economy in the world. >> yet, that's where all of the republicans want to have their next fight. >> that's where they want to have the fight. give it to them or not. i suspect he won't. >> quite a few days followed by quite a few months. thanks so much for joining us. we appreciate it. >>> why do some washington power brokers want to go over the fiscal cliff? the political brief sing next. first, the amr moment of 2012 that left us all speechless. i'm not kidding. this literally left me
CNN
Dec 30, 2012 4:00pm PST
at washington play chicken with the fiscal cliff and they're saying, hold on, we have this economy that seems to be gathering some steam but washington, government, congress in particular is the single greatest impediment. it's a rational decision. >> get the act together. john avlon, thank you, my friend. don, it's a lot of intangibles here, don. this is the thing we have to think about. it's not just the tangibles of how much your taxes might go up or how much this might go down. it's the intangible of confidence. it's trust. you lose somebody's trust, how long does it take to get it back. it doesn't just come back tomorrow because you vote on something. >> i can't believe mitch mcconnell was there all day yesterday. >> it's crazy. >> he's working on a saturday. i never work on a saturday. wait a minute, i work every saturday. >> you get your job done. you don't get to tell your bosses, i'm going to do this another time. i'll get down to it in 516 days. >> but one day, one day i will be able to do that, at least i'd like to think that. >>> moving on, at the edge of the fiscal cliff, will th
MSNBC
Dec 29, 2012 11:00am PST
of that fiscal cliff to a gentle, let's say, bunny slope. we have a fragile economy, but it's accelerating and it's predicted as this year to grow. it grew at 2% to goh at 3% or more this coming year so you want this skier, so to speak to go down the slope and pick up speed so when you do come to the grand bargain that has $3 trillion of debt reduction. all they've got to do is shoulder 1 billion, changing the scale and put the rest of that in the following nine years and that's something that they'll come up with. >> where do they find it? there are various places, and just that, there's $118 billion if you didn't do the payroll tax extension holiday and if you didn't do that at $250,000, that's almost the same equivalent amount or if you wanted to step back and say hey, let's make sure that these defensive, domestic sequestration cuts of $100 billion and half of that and you can take smalles poohes of that and come up to $100 million and know that it will grow close to 3%. that's the key, and that's why they're behind closed doors today. coming up with that, you don't have to have it done by ja
MSNBC
Dec 26, 2012 6:00pm PST
. the problem with the fiscal cliff, the thing we're trying to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the fiscal cliff shows by the way, in the fox hole, everyone's a kinsian. everyone agrees. that is number one. too much austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than sim
FOX News
Dec 28, 2012 8:00am PST
, but the republicans win because the economy is going to go out yet another fiscal cliff. george w. bush is not the president. obama is the president, he is not putting forth proposals to work with republicans. he will have to take ownership of this. they need to come up with a cohesive message about real economic growth and shrinking the size of government. they don't have a message and that is going to be the big question about who wins and long-run. jon: if we go over the cliff, i mean, everyone's paycheck, just about -- come january 1, it will be shrunk because government is going to be taking a much bigger chunk out of it. that will infuriate people. are they going to be blaming president obama? >> well, they won't be blaming president obama because polls show that they are blaming republicans. republicans are not really coming to the table. we had an election, and we had an election where voters clearly supported the president. jon: he got 50.96% of the population. >> he got over 300 electoral votes. romney only have one battleground state. tons of senate victories, again in the ho
FOX News
Dec 26, 2012 10:00am PST
have a huge impact on our economy just when it's most vulnerable to the approaching fiscal cliff. business groups and state leaders are now calling on the president to intervene, warning that a strike could really cost the country billions of dollars. if history is any indication, those warnings may be dead on. a lockout on the west coast back in 2002, remember that? lasted a total of ten days, and it cost the economy an estimated $1 billion each and every day. >>> a strike at the ports of los angeles and long beach earlier this month lasted eight days, an estimated loss of $650 million a day. a republican strategist and a former campaign aide for president george w. bush, julie roginsky is former political adviser to new jersey senate frank lautenberg. good to see you both. >> good to see you. gregg: didi, smoot-holly was passed decades ago for the purpose of putting tariff limits on incoming products. do we need to reexplore that? >> yeah. this was, this was back in the '60s. i mean, this was ancient history. why should these workers who get paid very well also get on top of th
MSNBC
Dec 26, 2012 6:00am PST
following president obama's announcement that he would cut his vacation short to deal with fiscal cliff negotiations. hoping that the real estate market would bolster the economy in 2013. we are learning that holiday sales this year were the weakest since 2008. they had a grim outlook for a fiscal cliff deal and the impact of the tragedy in newtown. on the radar this morning, chilling details in the christmas eve firefighter ambush. we could find out soon who will be saying aloha to the senate and a broken record in the house of representatives. new details out of webster, new york. william spangler set a car and house on fire and ambushed firefighters, opening fire on them as they arrive on the scene. police found a note he left behind saying he wanted to burn down the neighborhood and do what i like doing best, killing people. a convicted felon who spent 17 years in prison for killing his grandmother with a hammer was armed with three firearms including a bushmaster, the same gun used in the school massacre. he may have killed his sister and the home had human remains believed to be h
CNN
Dec 28, 2012 4:00pm PST
of their facilities. >> thank you, barbara starr at the pentagon. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. because it's the final 100 hours of the ford year end celebration. last chance to get the best deals of the year on america's freshest lineup. hurry in for the great mileage. hurry in the latest technology. the clock is ticking. so hurry to the final 100 hours of ford's year end celebration. before everything's gone. and one more thing...hurry. get a focus with 2000 cash plus 500 year end bonus cash with no charge sync and sound during the final hundred hours of the ford year end celebration. only at your local ford dealer. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'
FOX News
Dec 30, 2012 6:00pm PST
months until we get this resolved we wouldn't be talking the fiscal cliff that would take statesmanship from the president and it would do the economy a world of good and i wish that would happen. think about this, this is a major situation. we are almost 24-hours away from the new year. no business, no investor, no worker knows what the capital gains tax will be the personal tax is going to be the social security tax will be alternative minimum tax will be. it is like a third world country we are right to blame both parties in congress because they have to get their act together and get this done. >> i don't just blame both partys in congress i blame the president, too. this is about rolling up your sleeves making phone calls i remember whether it's lyndon johnson or bill clinton or ronald reagan they knew how to work the telephone. that's not happening here. >> it isn't. i think there's blame on both sides. one of the frustrations when i go to republican source on capitol hill they say the president is in the same place negotiation as he was 6 weeks ago that is to say you were right w
FOX News
Dec 28, 2012 7:00pm PST
going off the fiscal cliff. after a late afternoon meeting with the top four congressional leaders at the white house, president obama offered this assessment. >>> i'm modestly optimistic -- nobody is going to get 100% of what they want. but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate colleagues and told them house leaders would consider, accept or amend their plan. what s not expected to be included in any deal is increasing the debt limit, something democrats have wanted and republicans have resisted. >> we he haded a long meeting in the white house and it was constructive. we hope that it will bear fruit. but that is what we hoped a lot. i think that the next 24 hours will be very instructive as to what we are able to accomplish. >> if it doesn't work president obama wants lawmakers to vote on what would essentially be plan c. here is what it would include. focusing on three key area. keeping tax cuts
MSNBC
Dec 24, 2012 10:00am PST
the fiscal cliff. of course, if is that happens, the economy could eventually slip back into recession. one interesting point, thomas, though, last time that members of congress worked between christmas and new year's was 1996. that was during the government shutdown. this is really a rare occurrence for members of congress to have to come back and work out legislation that they went able to get done before the christmas holiday. >> the president is supposed to stay there for how long? >> well, of course, the white house not really giving us specifics about the president's travel plans at this point in time. the reality is i think the president is himself trying to figure out what he is going to do, but we do expect that he will cut his vacation short. you've heard the president himself during his press conference on friday say i will be seeing you all next week. i think that it is very likely that we will see president obama back in d.c. later on this week and also taking part in those negotiations. >> last but not least, do you have on flip-flops? >> no, not yet. >> i'm looking at wi kiki
FOX News
Dec 26, 2012 8:00am PST
: well, we're still trying that last ditch effort to keep the economy from going over the fiscal cliff. lawmakers are heading back to washington including the president with this year-end deadline that's been on the horizon. welcome, everybody, great to have you here. brand new hour of "happening now." kelly: i'm kelly wright in for jon scott -- jamie: and i'm jamie colby in for jenna today. kelly: talks hitting a dead end last week, now most americans are facing big tax hikes unless the two sides can work out a last minute deal. chief white house correspondent ed henry with more. >> reporter: you're right, really all eyes turning to plan c. plan a was that $4 trillion debt deal, plan b was speaker boehner's idea about tax increases only for million dollar incomes and more, now turning to plan c which is president obama's idea which is to move it back to $250,000 or more, that would be the threshold for tax cuts or tax increases in the other direction, also dealing with two million people who are losing their unemployment benefits, president wants to the take care of that by the end of
MSNBC
Dec 28, 2012 6:00pm PST
congress reaches, it will be a big tax cut. but the other thing about the fiscal cliff is you don't want to be blamed for going over it. it is going to be bad for the economy. it's bad for the country. what speaker boehner's done is create a situation in which we're going to go over the fiscal cliff. but the people who want higher taxes, the democrats, they're not going to be blamed for it. after all, it was john boehner who walked away from negotiations to try plan "b" last week. then it was john boehner who planned to pass plan "b" that very same week. then it was mr. boehner who said it was up to the senate, someone else's problem. just from a pr perspective, what john boehner has done here is a debacle for the republicans. and the white house, they've just been sitting back the last week or so and letting it happen. but today, they gave us their plan going forward. you could call it deal and jam. >> i'm optimistic we may still be able to reach an agreement that could pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreemen
CNN
Dec 27, 2012 1:00pm PST
is the fiscal cliff impasse. it's a potentially devastating one-two bunch for the u.s. economy. neither the longshore's union or alliance shipping company would allow anyone to speak on camera. but officials knowledgeable of the negotiations say it boils down to one issue. the key sticking point is the payments that the longshore men get for them. they pay royalties for the containers based on their weight but the shipping companies want to freeze those royalty payments for current longshore men and eliminate them for future hires. the longshore men say the royalties are made to make up for automation. but if the shipping companies lockout the longshore men -- >> that would impact more than containers. that would impact all cargos at ports. that would have a much more impactful reaction. $55 billion worth of cargo in an average month this year. candy? >> brian, i have to imagine retail companies and others who want those goods off the ships and in their stores have to be plenty worried. do they have a plan b to move those goods if there's a strike? >> reporter: yes. some of them do. clo
MSNBC
Dec 27, 2012 9:00pm PST
to say yes, the fiscal cliff would be averted, we'd have a good christmas and happy economic fun times for the economy would be right around the corner. they were wrong. >> we are nowhere when it comes to the fiscal cliff talks. let me tell you what's going to happen today. speaker john boehner, the republican speaker, is going to try to pass what he calls his plan b, which would just simply address tax rates for those making a million dollars or more and that's it. >> john boehner walked away from the obama administration's third offer. a giant, giant compromise. so he didn't like it when they led. he didn't like the decision. he decided instead to chart his own course called plan b. plan b was supposed to show president obama that republicans had their own solution and instead of bothering with his offer they would just go ahead and pass their own plan without him. that was the idea, anyway. >> there is breaking news to report tonight out of washington. strange breaking news out of washington. within the last hour republican house speaker john boehner appears to have completely lost
MSNBC
Dec 28, 2012 1:00pm PST
are essentially looking over the abyss of the fiscal cliff, and i know you have said in the past let's just go over the cliff and start from scratch. do you still think that's the way to go? >> i do. actually, i hope they never come to a deal because this is the best deficit reduction package the democrats are ever going to get. but let's look at what really is going to happen here. i would be more surprised if they came to a deal in the next five days than i was by the roberts vote on obama care. there's no way these guys are going to come to a deal, and the reason is this. the president has got the upper hand, and his most important partner is the weakest person in this, which is john boehner. john boehner is on the verge of losing credibility with his caucus. he can't take a deal to his caucus that will pass without the help of nancy pelosi, which will pull the entire deal to the left. so what they have to do is they have to go over the cliff. we're just talking about politics, we're not talking about finances here. they have to go over the cliff. that strengthens boehner's hands because no
CNN
Dec 26, 2012 1:00pm PST
. you're in "the situation room." the u.s. is now just six days away from the so-called fiscal cliff. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since t
FOX News
Dec 30, 2012 11:00am PST
cliff is interesting and we will stumble along i assume the economy will stumble along and the government won't bankrupt the country quite yet. i think we will have foreign policy crises with respect to and syria.ghanistan >> chris: iran, a year from now will we be talking about the diplomatic deal palestinianed, the military action taken or the fact that we are still in the same mess. in. >> i think the military action that will have been taken. >> chris: by us or israel? >> don't know. >> chris: that is enough. there you go. >> believe it or not i think campaigning will start again. the election is just oh but another one always about to begin. i think you will see the vice president probably making trips at some point in the first half of the year to places like, iowa, and new hampshire just to pick states at random because he would like to start set setg the stage for winning the nomination in four years. if hillary clinton decides not to run i think the vice president starts off as the favorite in a field that will include several others. joehris: you are saying j
ABC
Dec 28, 2012 5:30pm PST
to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours trying to come to a bipartisan agreement on a smaller fallback plan to keep at least some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she's at least a little encouraged. >> it was constructive. as i say, candor is constructive, and i think it moved us forward, but we'll see. >> reporter: it was the first meeting with the president and all the congressional leaders in six weeks. it follows an impasse that has shaken wall street, the dow down more than 400 points since talks stalled last week. and on main street, business owners like drew greenblatt, who owns a wire basket manufacturing company in baltimore, say the coming fiscal cliff is already causing pain because they just don't know what will happen to their taxes. >> right now we're doing our
MSNBC
Dec 30, 2012 5:00am PST
the economy back in gear and getting the economy back in gear. >> you would extend? >> the fiscal cliff would happen like in 2014. >> so bush tax cuts for the top 2%? >> keep those. the whole shabang. what we need is more money to go to the economy to keep things afloat. and this is not the time to figure out how we're going to reduce that. it doesn't -- it's not quite that important right now. >> picking up on that point, you're very closely following that stuff in washington, it looks like, my interpretation of this and tell me if i'm wrong, the payroll tax is basically gone already? >> i totally agree. it's not even being mentioned and the reason is, obama's last offer -- we actually had obama and boehner still negotiating in good faith, passing deals back and forth and this was included. he dropped his demand for having an extension of the payroll tax holiday in which the payroll tax was dropped from 6.2 to 2.4%. he dropped it. the stimulus offer shrank from 425 billion to 175 billion. so it's something he's already given up. you had tim geithner saying earlier in the year that, you know,
FOX News
Dec 29, 2012 1:00pm PST
. fiscal cliff crisis taking a toll on consumer confidence. putting things in context, here it is. a score of 90 on the conference board's index means the economy is healthy. last time we saw that number was 2007 before the start of the financial crisis. over the last two months we've seen steady declines. november's report showed a score of 71.5 and 65.1 in december. that is lowest number we've seen since august. joining us now for more on this is jonathan hunt, portfolio manager for capitalist pig hedge fund. contributor to for fox news channel, good to see you. >> happy new year. >> consumers have no faith in congress, guys get your act together. if there is a deal tomorrow, how do you think is this is going to affect consumer confidence over the next six months? >> it might slightly help but already there is a tremendous damage done. it's no surprise that consumers are not confident. to be confident you have to have some slight semblance of certainty and we haven't had anything like that. consumers want to think long term and budget but trillions of dollars and hundreds of millions of
FOX News
Dec 30, 2012 1:00pm PST
saying he is not overly optimistic that a deal will be reached to avoid the so-called fiscal cliff. even if they get something passed here there are other challenges that our economy will face. global powers like china and europe and japan are having major problems of their own. that could affect the way they do business with us. joining us is to talk about, ed, good to see you. biggest problem some of these governments to stimulate their economies, die let's just print a bunch of money. that has catastrophic events with them and even with the united states that may tried traded with them. >> that seems to be just to print money. that is not how it works. when somebody prints money, it's devalues their currency which makes anything they want to export or anything that they are importing more expensive. that is why your food is more expensive because we imported a lot of that. that is why energy is more expensive because we import a lot of that. if every country is doing that, its race to the bottom how quickly they can devalue their currency. >> we trade with so many different nations. w
FOX News
Dec 27, 2012 10:00am PST
: as lawmakers struggled with the fiscal cliff, treasury secretary timothy geithner is facing an equally harrowing deadline is the u.s. economy approaches its borrowing limit of $16.4 trillion. he says that he is being forced to use extraordinary measures. just to try try to keep things afloat for another few months. do you ever feel like groundhog day? paul harrington is a managing partner of harrington financial llc. i do feel like bill murray in his movie "groundhog day", the movie. it seems to be happening over and over again, doesn't it? [laughter] reporter: this narrative is tiring and frustrating. we have been talking about this every year. we do have a $16.4 trillion debt ceiling. i want people to realize that there are vibrational effects associated with going over or trying to extend the debt ceiling. one example is the credit rating of the united states. we already saw a downgrade their with our respective credit rating in the united states. if we are going to go through the debt ceiling once again, and i suspect that we will revisit having another downgrade to her credit rati
CNN
Dec 24, 2012 11:00am PST
. this could have a very, very bad impact on the economy as a whole. it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would mean democratic and republican support. right now, all eyes on the senate because they will reconvene on the 27th that is thursday. and senate majority leader harry reid, it is up to him really to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up f
FOX News
Dec 29, 2012 3:00pm PST
about 2013? >> it's interesting, i was talking to some people today and they say the fiscal cliff for them started about five years ago. but all is not gloom and doom with this. you look at some of the economic indicators that are out there and what is positive for our economy, number one is the housing market. we have seen a steady progressive positive indicators on the housing market that things are getting better there. another thing is the debt load. it looks like houses are starting to see a significant impact there as well. when you look at the debt ratio to gdp, it's actually decreased to the 2003 level. that means that more families are saving money. also they're paying a lower interest rate on that debt load. so that's another good indicator that we can bring you for the new year. >> heather: so back to the fiscal cliff, we have to talk about that. what do families need to be aware of immediately with the fiscal cliff? we mentioned our paychecks in the intro. >> well, if we go sailing over that fiscal cliff and nothing is done, in the next few weeks you could see a smalle
Search Results 0 to 27 of about 28 (some duplicates have been removed)